Page 11 - Banking System

YES Bank Q1 profit rises 50.2% to Rs 311 cr on improved interest margins

YES Bank's net interest income rose by 32 per cent in Q1FY23 to Rs 1,850 crore from Rs 1,404 crore in Q1FY22

Rural India's inclusion in the Indian banking system

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Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

BoB rejigs corporate banking biz, to open 27 branches for mid-corp entities

After rationalisation, nine Bank of Baroda branches will cater to large corporates while 27 will be for mid-sized corporates

Credit card spend hits new high in May; bounce rates by value at 3-year low

Bounce rates by value at three-year low

Excess liquidity in India's banking system back to pre-Covid levels

A section of the market sees further liquidity tightening measures from the RBI in the June review of the monetary policy

Ashneer Grover tells VC firms to 'right size' before advising startups

Ashneer Grover, co-founder and former managing director of fintech platform BharatPe, has advised venture capital and investment firms to first think about "right-sizing" themselves in the wake of current economic slowdown before telling their portfolio companies and startups to do so.

Alipore Court restrains KPMG, banks from acting on SREI audit report

The order was passed on May 20, based on a petition by SREI promoter Hemant Kanoria. Next hearing on May 30

Punjab & Sind Bank Q4 net profit more than doubles to Rs 346 crore

Punjab & Sind Bank on Thursday reported an over two-fold jump in net profit at Rs 346 crore for the quarter ended March 2022, helped by a decline in bad loans. The state-owned lender had posted a net profit of Rs 160.79 crore in the same quarter of the preceding fiscal year. Total income during the quarter increased to Rs 2,007.90 crore as against Rs 1,940.62 crore in Q4 FY21, the bank said in a statement. Gross bad loans or non performing assets (NPAs) of the bank came down to 12.17 per cent of gross advances as of March 31, 2022, from 13.76 per cent by end of March 2021. In value terms, gross NPAs declined to Rs 8,565 crore by the end of FY22 as against Rs 9,334 crore a year ago. Net NPAs almost halved to 2.74 per cent (Rs 1,742.27 crore) from 4.04 per cent (Rs 2,461.95 crore) a year ago. Bank's provisions for bad loans fell down significantly to Rs 866 crore in the quarter from Rs 1,993 crore in the year-ago period. Punjab & Sind Bank's MD and CEO S Krishnan said the bank ..

Banking system stable, says Sri Lanka as $1.4-bn bonds near maturity date

Sri Lanka faces an economic crisis as it struggles to pay for essential imports of food and fuel

Economic Survey: Banks took Covid shock well but some impact is yet to come

According to the survey, the banking system is well capitalised and the overhang of NPAs seem to have structurally declined even allowing for some lagged impact of the pandemic

Economic Survey 2021-22: Only 51% deposits insured despite hike in cover

However, the figure is higher than the international benchmark of 20-30%

Rs 50,000 crore of NPAs may be transferred to NARCL in FY22

Overall, 38 accounts worth Rs 83,000 crore identified: SBI chairman

Bank credit grows 8.01% to Rs 115 trn; deposits 9.28% to Rs 159 trn

Bank credit grew 8.01 per cent to Rs 115 lakh crore and deposits rose 9.28 per cent to Rs 159.83 lakh crore in the fortnight ended January 14, according to RBI data. In the fortnight ended January 15, 2021, bank credit stood at Rs 106.43 lakh crore and deposits at Rs 146.25 lakh crore, as per the RBI's Scheduled Banks' Statement of Position in India as on January 14, 2022, released on Friday. In the previous fortnight ended December 31, 2021, advances rose 9.16 per cent and deposits increased 10.28 per cent. In FY2020-21, bank credit increased 5.56 per cent and deposits grew 11.4 per cent.

Reserve Bank of India conducts variable repo rate auction of Rs 75,000 cr

The central bank offered Rs 75,000 crore of liquidity to the banking system against which banks bid for up to Rs 1.38 trillion

Spike in Covid cases may impact banking system's restructured book: Icra

Demand for recast may also go up for loans previously restructured; RBI warns of drop in bank's asset quality but reassures that they are strong enough to withstand huge shocks

Credit card spend crosses Rs 1 trillion first time in a month: RBI

Among major credit card players, ICICI Bank has been the most aggressive

DBS says banking services back to normal after 2-day outage, systems secure

The bank's services, including its payment app, were disrupted on Tuesday and Wednesday.

Rates to remain benign, corp credit revival likely in 4-6 months: SBI chief

In a Q&A, the lender's chairman Dinesh Khara says the banking system awaits a restructuring proposal from Vodafone-Idea

Utkarsh Small Finance Bank reports Rs 38 cr profit for Apr-Sept FY22

The bank on Monday reported nearly 52 per cent decline in net profit